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Treasury yields were unchanged Friday as investors monitored the latest developments in the Middle East, after a U.S. official said it would continue to hold “technical talks” with Iran despite a flare-up in hostilities.
The 10-year Treasury yield — the main benchmark for mortgages, auto loans and credit card debt — was flat at 4.5372%.
The yield on the 2-year Treasury note, which typically moves in line with short-term Federal Reserve interest rate decisions, also held firm at 4.1682%. The longer-dated 30-year Treasury yield was seen holding steady at 5.0536%.
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
With no major economic data releases expected Friday, traders continue to watch events in the Middle East closely, as renewed missile strikes between the U.S. and Iran this week further strained the already-fragile ceasefire agreement.
Oil prices eased further during early trading after a U.S. official said Washington remains committed to finding a solution to the conflict, according to an MS Now report.
West Texas Intermediate futures were last seen 0.26% lower at $71.88 per barrel. Brent crude — the global oil price benchmark — was down 0.28% at $76.12.
Treasury yields — which spiked earlier in the week after Trump told the NATO summit in Ankara, Turkey that the ceasefire is “over” — edged lower on Thursday.
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